There was a rather optimistic boost moving the pound in late US trading and in European sessions in anticipation of Theresa May’s Brussels result.

Early this morning, sterling enjoyed a small rise against multiple currencies.

When the European Commission announced that satisfactory progress had been made to move to the trade and transition phase of the EU divorce, sterling was up by 0.4% against the euro and 0.3% against the dollar.

The pound was also gaining strength against Australian, Canadian, Japanese and Swiss currency.

He added: ‘The most pressing concern for UK companies has been their EU staff, who have urgently needed certainty about their future in this country.

‘We have grounds to hope now that our members will be able to send their employees off for the Christmas break feeling more comfortable about their status here.

‘We call on the UK and EU to build on this positive momentum going into the New Year.

‘It is overwhelmingly in the interests of both sides to begin working on our future economic relationship – particularly in order to fully address the Irish question.

‘And we look forward to further clarity about what the UK’s objectives are for that new relationship as well as a firm commitment on transition in the very near future.’

(Picture: Getty)

However, opposition politicians questioned whether the deal struck between the UK and the European Commission would satisfy hardline Brexiteers on the Conservative benches.

A spokesman for the Liberal Democrats, who are fighting for UK voters to be given a second referendum on any final Brexit deal, said: ‘So Theresa May has finally got a deal, but how long before it’s torn apart by her own MPs?

‘It should be the British people, not Tory Brexiters and DUP, who get to decide whether this deal is good enough.’

The Lib Dem spokesman said there was ‘still no solution over how to prevent a hard border between Northern Ireland and Ireland’ in the text of the joint report.

‘A huge obstacle to the Government’s Brexit plans is being kicked into the long grass,’ he said.

Earlier this week, the DUP – a Northern Ireland party that have been propping up May’s government following an embarrassing snap election result in June – said they would not sign off on a Brexit deal that ‘would allow a border in the Irish Sea’.